Thursday, March 19, 2020

20 March 2020 Foreign

FUTURESCOIN IS GOING GLOBAL


WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq

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E-Mini Dow

U.S. stock index futures fell for the third time this week on Thursday as sweeping emergency action from policymakers across the globe failed to convince panic-stricken equity markets that a coronavirus-driven global recession could be averted.  

The meltdown in global markets, which has brought back memories of the 2008 financial crisis, has pushed Wall Street’s three main indexes down about 30% from their record closing highs last month and erased the Dow Jones Industrials’ gains since the President Donald Trump’s 2017 inauguration.

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Plan A : Continue to short if market stays below 19999. Targets are 19965, 19925 and 19875.
Plan B : Cut above 20035.
Plan C : Attempt to long only if market rebounds from 19514. Targets are 19549, 19589 and 19635.
Plan D : Cut below 19475.



E-Mini S&P 500

The Dow jumped 188.27 points, or 0.95%, to 20,087.19. The S&P 500 climbed 0.47% to close at 2,409.39. The Nasdaq Composite advanced 2.30% to 7,150.58. Strong gains in tech and energy stocks Thursday lifted the Dow off its lowest level since February 2017.

The Dow initially tumbled more than 700 points to start off Thursday’s session before swinging squarely into positive territory on the day. Leading the way higher on Wall Street were “FAANG” stocks, Facebook, Amazon, Apple, Netflix and Alphabet. Energy stocks also gave the broader market a boost as crude prices enjoyed their best day ever. Bottom line, market volatility will remain at extreme levels until market players get a sense that the coronavirus crisis is peaking out or improving.

Facebook shares jumped 4.20% while Amazon gained 2.78%. Netflix shares rallied 5.25% while Alphabet climbed 1.88%. Noble Energy and Diamondback Energy were among the best-performing stocks in the S&P 500 energy sector, gaining 30.46% and 20.12%, respectively.

Existing home sales numbers are set for release Friday. Investors will also be vigilant for any updates on the coronavirus crisis.

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Plan A : Short if market failed to support above 2482.25. Targets are 2457.25, 2435.50 and 2416.75.
Plan B : Long if market retraced but supported firm above 2442.25. Targets are 2467.25, 2487.50 and 2507.25.



E-Mini Nasdaq



U.S. stock futures turned around early Friday morning, pointing to opening gains after stocks managed to notch a positive Thursday session.

As of 2:59 a.m. ET, Dow Jones Industrial Average futures were up 403 points, implying a gain of about 341 points at the open on Friday. S&P 500 futures and Nasdaq 100 futures also pointed to opening gains for the indexes.
Stocks rose on Thursday, with the Dow rising 188.27 points, or nearly 1%, to 20,087.19. The S&P 500 was up 0.5% at 2,409.39 while the Nasdaq Composite outperformed with a 2.3% surge to 7,150.58. The energy sector led stocks higher, gaining 6.75%, as oil posted its largest one-day percent gain in history.

Thursday’s relatively muted move was a break from the extreme volatility of late in the market, as investors try to make sense of the ongoing coronavirus-induced business slowdown.

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Plan A : Short if market failed to support above 7595.25. Targets are 7552.25, 7520.50 and 7492.25.
Plan B : Long only if market doesn't retrace much and  supported firm above 7574.25. Targets are 7614.25, 7641.50 and 7671.25.


HSI


Hong Kong stocks ended lower on Thursday, though losses were contained on hopes of further stimulus to underpin China’s economy.

The Hang Seng Index dropped 2.6% to 21,709.13. The HSI dropped more than 5% in morning trade to its lowest since mid-2016, joining a global rout as emergency central bank measures in Europe, the United States and Australia failed to halt a fresh wave of panic selling.

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Plan A : Continue to short if market stays below 21981. Targets are 21905 and 21990. Cut above 22060.


Plan B : Long only if market tested and rebounds from 21680. Targets are 21755 and 21840. Cut below 21605.


WTI Crude

U.S. oil jumped 23% on Thursday for its best day on record, as it clawed back more than half of the losses from Wednesday's swoon.

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Plan A : Attempt buy if oil price trades firmly above 25.8
Plan B : Cut below 25.3
Plan C : Consider selling if oil price surges but fails to breach above 26.7
Plan D : Cut above 27.7


Gold

Gold prices slipped on Thursday as the dollar jumped to multi-year highs, with the coronavirus pandemic threatening to cripple economy activity and prompting investors to sell assets to keep their money in cash.

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Plan A : Attempt buying if gold price trades firmly above 1455
Plan B : Cut below 1450.6
Plan C : Consider selling if gold price surges but fails to breach above 1480.4
Plan D : Cut above 1484

Disclaimer: This information is intended to assist professional investors. News are credit courtesy of Reuters, Nasdaq.com, Bloomberg, CNN, Market Watch, FT.com, the Star online, forbes.com and CNBC. The information does not constitute investment advice or an offer to invest or to provide management services and is subject to correctaysion, completion and amendment without notice.As with all investments, there are associated risks and you could lose money investing. Prior to making any investment, a prospective investor should consult with its own investment, accounting, legal and tax advisers to evaluate independently the risks, consequences and suitability of that investment.

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